US Consumer Spending Ticks Up Amid Strong Wages, BofA Says
Mackenzie Hawkins BloombergFebruary 10, 2023 Card spending rose 5.1% in January from a year earlier Households benefit from minimum wage, Social Security boosts Consumer spending ticked up at the start of the 2023 in the US, reversing declines late last year and suggesting that even lower-income families have some cash buffers to fall back on, […]
US Service Gauge Tops Estimates in Biggest Advance Since 2020
Reade Pickert BloombergFebruary 3, 2023 ISM index rebounds with six-point gain in January to 55.2 Orders measure matches highest since beginning of 2022 A gauge of US services snapped back in January after an end-of-2022 slump, suggesting a consumer demand resurgence that leans against concerns of an imminent economic slowdown. The Institute for Supply Management’s non-manufacturing […]
US Business Activity Shrinks for Seventh Month, Prices Rise
Augusta Saraiva BloombergJanuary 24, 2023 S&P Global composite measure at 46.6 in January after 45 Composite prices paid gauge firms for first time since May US business activity contracted for a seventh month, though at a more moderate pace, while a measure of input prices firmed in a sign of lingering inflationary pressures. The S&P […]
After $18 Trillion Rout, Global Stocks Face More Hurdles in 2023
Thursday, December 29, 2022 09:00 PMSource: Bloomberg by Jan-Patrick Barnert Recession, rate hikes risk spurring earnings slowdown in 2023 – Question marks remain over how Big Tech and China will fare. More tech tantrums. China’s Covid surge. And above all, no central banks riding to the rescue if things go wrong. Reeling from a record […]
BlackRock, Fidelity Warn Inflation Is Being Underestimated Again
Tuesday, January 10, 2023 12:00 AMSource: Bloomberg by Eva Szalay Some of the world’s largest asset managers such as BlackRock Inc., Fidelity Investments and Carmignac are warning markets are underestimating both inflation and the ultimate peak of US rates, just like a year ago. The stakes are immense after (During 2022) Wall Street almost unanimously […]
Fed’s High Inflation Forecast Baffles Wall Street After Soft CPI
Asia Martin Business InsiderDecember 22, 2022 A study from Amazon economists estimates a 30% chance of a US recession in the next six months. Most other forecasts are doom and gloom, with some predicting a 100% recession chance in 2023. If there is a recession, Amazon is banking on a few factors to avoid much […]
US inflation powering ahead in October, inflation cooling
Lucy Nicholson ReutersDecember 1, 2022 U.S. consumer spending increased solidly in October, while inflation moderated, giving the economy a powerful boost at the start of the fourth quarter as it faces rising headwinds from the Federal Reserve’s aggressive monetary policy tightening.The labor market, the economy’s other pillar of support, continues to show resilience. The number […]
Senior Fed Economist Says Odds of Avoiding Recession Have Risen
Matthew Boesler BloombergNovember 18, 2022 Latest data raise soft-landing chances slightly, Raffo says Minneapolis Fed’s director of research speaks in interview (Bloomberg) A senior Federal Reserve economist said the latest data on consumer spending, wages and prices suggest the central bank’s chances of achieving a soft landing for the US economy have improved a bit […]
US Producer Prices Cool by More Than Forecast on Heels of CPI
Reade Pickert BloombergNovember 15, 2022 Index rose 8% from October 2021; up 0.2% from month earlier Core goods prices declined, while services costs also eased (Bloomberg) —US producer price growth stepped down in October by more than expected in the latest sign that inflationary pressures are beginning to ease. The producer price index for final demand advanced […]
US Retail Sales Rise Most in Eight Months as Consumers Hold On
Augusta Saraiva BloombergNovember 16, 2022 Value of purchases rose 1.3% in October, topping estimates Sales declined at department stores and electronics outlets (Bloomberg) —US retail sales posted the biggest increase in eight months in October, indicating demand for goods is broadly holding up despite decades-high inflation and a worsening economic outlook. The value of overall retail […]